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Research Report

27/11/2019 14:25

{I-bank focus}Huatai raises CR Gas (01193) to HK$51; "buy"

[ET Net News Agency, 27 November 2019] Huatai Research raised its target price for
China Resources Gas (CRG)(01193) to HK$51 from HK$47.1 and maintained its "buy" rating.
The research house remains positive on CRG in 2020, considering (1) the Ningbo project
deal, which will contribute gas sales volume of 800mcm, looks set to be completed this
year, (2) collaboration with Shanxi Gas Group, which should increase CRG's market share in
Shanxi province, starting from 2020, and (3) Russian gas slated to arrive in China by the
end of the year will promote gas consumption growth in northeast China first.
Huatai lifted its earnings forecasts for 2020/2021 by 3%/5% to reflect higher forecasts
for gas sales volume growth. (KL)

Remark: Real time quote last updated: 29/05/2020 17:58
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